Deadline: 1-May-21
Applications are now open for the Bridges for Enterprise (BfE) Incubation Programme to scale your business, completely free-of-charge.
The goal is to support social enterprises on the path to financial sustainability and creating impact in their communities. They consider all applications to the BfE Incubation Programme carefully and holistically over several stages to determine the startups that best fit the mission and vision.
What types of startups do you work with?
- Startups that have already begun operations and have an existing revenue stream
- Startups that have a clear social and/or environmental impact at the core of their business
- Startups based in countries that have relatively less access to business mentorship or startup networks
Programme Timeline: Each advisory engagement lasts for 3 to 4 months. Startups may expect to complete the programme within 6 to 8 months.
Criteria
They accept social enterprises that can demonstrate:
- Innovative Solutions. You have developed a unique minimum viable product (MVP) that addresses a key development challenge.
- Proven Results. You have a revenue generating business model with at least 6 months in operation.
- Positive Impact. Your business generates positive environmental or social impact in the communities you serve.
- Committed Management. Your company’s leadership team has a demonstrated track record of commitment.
Eligibility Criteria
The BfE Incubation Programme would be a good fit for you if:
- You are a for-profit or non-profit social enterprise
- You are an early stage startup at the pre-seed or seed stage
- You have an existing product or service and have started earning revenue
- Your business is legally established in Africa, Asia, Latin America or the Middle East
- You demonstrate a clear path to financial returns and social impact
Desirable Qualities
- Business Model
- Customer-centric understanding of target audience
- Documented revenue stream(s) and other financial metrics
- Clear business model backed by strategies for achieving KPIs
- Social Impact
- Impact alignment with one or more of the UN SDGs
- Impact is fully integrated into core business practices
- Proxies for social and/or environmental impact are identified and measured
- Product/Service
- Minimum viable product (MVP) with good product-market fit
- Sustained momentum in customer growth and demand
- Communication
- Prompt in responding to requests for information
- Easily contactable and willing to engage with BfE teams virtually throughout the programme
- Management
- Driven and committed leadership team working fulltime
- Equipped with relevant capabilities and expertise
- Team consists of more than one founder
- Advisory Need
- Actionable problem statement with clearly articulated objective(s)
- Devised initial strategies to address the problem but faced challenges
For more information, visit https://www.bridgesforenterprise.com/startups/